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TraderTV Live
August 04, 2024

The Week Ahead: August 5-9


Get ready, traders! This week promises to be a pivotal one with a flurry of major earnings reports and critical economic data on the horizon. Heavyweights such as Palantir, Uber, and Disney are among the companies set to release their quarterly results. In addition, we'll be closely monitoring key economic indicators, including PMI reports and trade balances. Our in-depth breakdown of The Week Ahead will provide you with essential insights to navigate these significant market events. Stay informed and prepared as we delve into a week packed with potential market-moving announcements.


🚀 The Week Ahead: Major Earnings, Economic Data & More! 🚀

Brace yourselves, traders! A major earnings week is upon us, featuring heavy hitters like Palantir, Super Micro Computers, and Robinhood! We’ll also get earnings reports from the weight loss drug space and the rideshare industry, as well as crucial economic data like the June import/export numbers. Dive into the details with our latest video on The Week Ahead.

📅 MONDAY: Big Names and Economic Insights

Earnings Reports:

  • Berkshire Hathaway: Operating profit jumped by 39% YoY in Q1 2024, with insurance underwriting earnings rising by an impressive 185%. Analysts expect Q2 2024 earnings of $5.10 per share.

  • Tyson Foods: Also reporting before the bell.

Economic Data:

  • S&P Global Composite PMI & Services PMI: Final July prints expected to be slightly higher.

  • ISM PMI for July: Includes business activity, employment, new orders, and prices.

  • Treasury Auctions: 3-month and 6-month bill auctions at 11:30 AM.

Stocks to Watch:

  • Viking Therapeutics: This occasional runner has a short float of 13.6%, recently gapped up on earnings, and will appear at the BTIG Biotechnology Conference.

Post-Bell Earnings:

  • Palantir: Last quarter’s revenue was $634M, up 21% YoY but with disappointing guidance. Q2 consensus estimate is $652.29M.

  • Lucid Group: On track to meet its 2024 production goal with Q2 revenue expected at $188.05 million.

📅 TUESDAY: Tech Giants and Economic Data

Earnings Reports:

  • Uber: Benefiting from a recent legal victory, Q1 2024 revenue jumped by 15% YoY. Analysts are keen on Q2 figures.

  • Other Noteworthy Reports: Caterpillar, Celsius, fuboTV, Constellation Energy Group.

Economic Data:

  • Exports, Imports, and Balance of Trade for June: Released at 8:30 AM.

  • Economic Optimism Index: Released at 10 AM.

  • Household Debt & API Crude Oil Stock Change: Watch these releases at 11:00 AM and 4:30 PM respectively.

Stocks to Watch:

  • SolarEdge Technologies, Blackberry, Clover Health Investments: Attending notable conferences.

Post-Bell Earnings:

  • Super Micro Computer, Airbnb, Upstart, Fortinet, Coupang, Reddit, Rivian: Reddit’s first report as a public company showed a 48% YoY revenue growth. Rivian is expected to post quarterly revenue of $972.86M.

📅 WEDNESDAY: Entertainment and Tech

Earnings Reports:

  • Walt Disney Company: Coming off box office hits with Inside Out 2 and Deadpool & Wolverine, analysts expect Q2 revenue of $23.09 billion.

  • Other Reports: Shopify, Aurora Cannabis, Lyft, Novo Nordisk, CVS Health, Robinhood, AppLovin, SolarEdge, Fastly, Occidental, Dutch Bros, Hubspot.

Economic Data:

  • Mortgage Rates & Applications: Released at 7 AM.

  • EIA Crude Oil and Gasoline Stock Changes: Released at 10:30 AM.

  • Consumer Credit Change for June: Released at 3 PM, expected at $12B.

📅 THURSDAY: Pre-market and Post-bell Action

Earnings Reports:

  • Eli Lilly, Datadog, Krispy Kreme: All reporting pre-market.

Economic Data:

  • Jobless Claims & Wholesale Inventories for June: Initial and continued claims at 8:30 AM, inventories expected at 0.2%.

  • EIA Natural Gas Stock Change & Mortgage Rates: Released at 10:30 AM and 12 PM respectively.

  • Fed Balance Sheet: Released at 4:30 PM.

Post-Bell Earnings:

  • Unity, Elf, Rocketlab, The Trade Desk, Paramount Global, SoundHound AI: Paramount’s report is the first since its $28B merger with Skydance Media. SoundHound, with a 22.5% short float and an investment from Nvidia, is also notable.

📅 FRIDAY: Closing the Week with Retail Favorites

Earnings Reports:

  • Nikola, Canopy Growth, Embraer: All scheduled to report before the bell.

Economic Data:

  • Baker Hughes Rig Counts: The only economic data release for the day at 1 PM.

Stay informed and get ahead of the market with our detailed breakdown of The Week Ahead. Don't miss out - watch the full video here!